Ares Capital Corporation Leads Three New Financing Transactions Totaling More …

NEW YORK, Jan 09, 2012 (BUSINESS WIRE) –
Ares Capital Corporation


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+0.38%



announced today that investment
transactions closed in the fourth quarter of 2011 included three
financing commitments to new portfolio companies totaling more than $640
million. Ares Capital served as administrative agent in all three
transactions.

Ares Capital President Michael Arougheti commented, “We are very pleased
to have partnered with three high-quality private equity investors and
their franchise businesses. These transactions demonstrate that our
flexible capital as well as our ability to lead and commit significant
dollars is resonating among sponsors seeking reliable and large-scale
capital solutions in the middle market.”

Below is a brief description of these transactions:

Grocery Outlet Inc. / Berkshire Partners LLC

Ares Capital served as administrative agent, lead arranger and
bookrunner in a senior secured credit facility to support the
refinancing of Grocery Outlet Inc. by Berkshire Partners. Grocery Outlet
is an extreme-value grocery retailer with over 170 stores in the United
States.

RegionalCare Hospital Partners Inc. / Warburg Pincus

Ares Capital served as administrative agent in a second lien term loan
to support the acquisition of Essent Healthcare, Inc. by RegionalCare
Hospital Partners, Inc., an existing portfolio company of Warburg
Pincus. Pro forma for the acquisition, RegionalCare owns and operates
seven market-leading, non-urban hospitals across six states. The
hospitals are located in Florence, Alabama; Muscle Shoals, Alabama;
Ottumwa, Iowa; Wilmington, Ohio; Paris, Texas; Sharon, Connecticut and
Waynesburg, Pennsylvania.

WorldStrides / The Carlyle Group

Ares Capital served as administrative agent, lead arranger and
bookrunner in a senior secured credit facility to support the
acquisition of WorldStrides by The Carlyle Group. WorldStrides is the
nation’s largest student travel organization.

About Grocery Outlet Inc.

Based in Berkeley, California, Grocery Outlet offers extreme bargains on
brand name merchandise, with prices often up to 50% less than
conventional retailers. The largest “extreme- value” grocery retailer in
the United States, Grocery Outlet has over 170 locations in Arizona,
California, Idaho, Nevada, Oregon, Washington and Pennsylvania. Grocery
Outlet carries thousands of products across several categories including
dry groceries, frozen, dairy, deli, produce, health beauty, general
merchandise, beer wine and meat. Most stores are independently
operated by locally-based families. A third-generation family run
company, Grocery Outlet has been a tradition for bargain-seeking
customers since 1946. For more information, visit
www.groceryoutlet.com .

About Berkshire Partners LLC

Berkshire Partners, the Boston-based private equity firm, has invested
in over 100 leading middle market companies for over twenty-five years
through eight investment funds with aggregate capital of $11 billion.
Berkshire has developed specific industry experience in several areas
including consumer products and retail, business services, industrial
manufacturing, transportation and communications. Representative
investments include Party City Holdings, Bare Escentuals, Carter’s,
Crown Castle International, NEW Asurion and TransDigm. The firm
seeks to invest $50 million to $500 million of equity capital in each
portfolio company. For more information, visit
www.berkshirepartners.com .

About RegionalCare Hospital Partners Inc.

RegionalCare Hospital Partners, Inc., headquartered in Brentwood,
Tennessee, invests in and operates hospitals in non-urban markets.
RegionalCare was founded in 2009 with an investment from Warburg Pincus.
With a commitment to high quality care and compassionate service,
RegionalCare’s mission is to partner with hospitals that serve a broad,
regional population and help them meet the healthcare needs of their
communities. Pro forma for the acquisition of Essent Healthcare, Inc.,
RegionalCare will own and operate seven non-urban, market-leading
hospitals across six states. The hospitals are located in Florence,
Alabama; Muscle Shoals, Alabama; Ottumwa, Iowa; Wilmington, Ohio; Paris,
Texas; Sharon, Connecticut and Waynesburg, Pennsylvania. For more
information, visit
www.regionalcare.net .

About Warburg Pincus LLC

Warburg Pincus is a leading global private equity firm. The firm has
more than $30 billion in assets under management. Its active portfolio
of more than 125 companies is highly diversified by stage, sector, and
geography. Warburg Pincus is a growth investor and an experienced
partner to management teams seeking to build durable companies with
sustainable value. Founded in 1966, Warburg Pincus has raised 13 private
equity funds which have invested more than $40 billion in over 650
companies in more than 30 countries. The firm is headquartered in New
York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London,
Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai.
For more information, visit
www.warburgpincus.com .

About WorldStrides

Located in Charlottesville, Virginia, WorldStrides is the nation’s
largest provider of supplemental educational student travel programs.
The Company is the only provider to be accredited by all six of the
regional accrediting bodies recognized by the Department of Education.
WorldStrides leads group travel programs to more than 80 countries and
serves approximately 200,000 students annually. Founded in 1967,
WorldStrides has provided educational trips and accredited educational
content to more than 4,000,000 students from elementary through graduate
school. The company has earned multi-year customer relationships with
teachers and school administrators by providing superior educational
content, disciplined travel operations and exceptional levels of student
safety. For more information, visit
www.worldstrides.com .

About The Carlyle Group

The Carlyle Group is a global alternative asset manager with $148
billion of assets under management in 89 active funds and 52 fund of
fund vehicles as of September 30, 2011. Carlyle invests across four
segments — Corporate Private Equity, Real Assets, Global Market
Strategies and Fund of Funds Solutions — in Africa, Asia, Australia,
Europe, the Middle East, North America and South America. Carlyle has
developed expertise in various industries, including: aerospace, defense
government services, consumer retail, energy, financial services,
healthcare, industrial, technology business services,
telecommunications media and transportation. The Carlyle Group employs
more than 1,200 people in 33 offices across six continents. For more
information, visit
www.carlyle.com .

About Ares Capital Corporation

Headquartered in New York and with offices in Atlanta, Chicago, Los
Angeles and Washington, D.C., Ares Capital is a leading specialty
finance company that provides one-stop financing solutions to U.S.
middle market companies and private equity sponsors. Ares Capital
invests primarily in first and second lien loans and mezzanine debt,
which in some cases includes an equity component. To a lesser extent,
Ares Capital also makes equity investments. Ares Capital, which has
elected to be regulated as a business development company under the
Investment Company Act of 1940, is externally managed by Ares Capital
Management LLC, a wholly owned subsidiary of Ares Management LLC. Ares
Management LLC is a global alternative asset manager and a Securities
and Exchange Commission registered investment adviser with approximately
$46 billion of committed capital under management as of December 31,
2011. For more information, visit
www.arescapitalcorp.com .

SOURCE: Ares Capital Corporation

        Ares Capital Corporation
        Carl Drake, 404-814-5204
        cdrake@aresmgmt.com

Copyright Business Wire 2012

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